Credit Cards Online Information

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TOPIC: Credit card fraud is increasingly causing financial woes for many smaller online merchants, according to an article by USA TODAY. The National Retail Federation claims the recent security breaches among the large credit card issuers has resulted in small business owners paying the expensive bank charges when their products are purchased by stolen credit cards. While credit card-issuing banks waive fake charges and cash transfers for the consumer, the merchant must absorb that cost if the banks discover the merchant did not follow procedure to verify the consumer's identity. Larger online merchants say high-end security systems help keep fraud costs down.

EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story:

Carl Clump is a global credit card fraud specialist with expertise in the many aspects of online credit card fraud and payment card risk management services. Carl has been chief executive of Retail Decisions since 1998. Previously, he was group-managing director at the Harpur Group Limited, an international processor and issuer of corporate cards and, before that, he spent 13 years with Texaco. His roles included those of European marketing coordinator, manager of the UK marketing and planning division and secondment, as general manager, to TEPAR, a consortium of European card issuing companies.

Julie Fergerson is the co-founder and vice president of emerging technologies at ClearCommerce Corporation. She is the technical inspiration behind ClearCommerce's integrated e-commerce risk management and payment processing solutions. Fergerson is among the few Internet elites with 20 years' experience. Now that the Web is reaching the mainstream on a global scale, ClearCommerce is poised to dominate the online transaction processing market. After six years at IBM, Fergerson puts her Internet experience to work mapping out the ClearCommerce technical vision. According to Fergerson, integrating the Internet sale with legacy systems, protecting retailers and consumers from fraud, and making online payments safe, secure and automated are key elements to the rise to leadership for ClearCommerce. Fergerson is also Chair of the Merchant Fraud Squad, a non-profit industry group dedicated to helping retailers fight Internet fraud.

# posted by Medical Information : 3:05 AM